New South Wales Consolidated Acts

PETROLEUM (ONSHORE) ACT 1991 - SECT 32

32 Direction to holder of exploration licence to apply for lease

(1) If petroleum is discovered in land comprised in an exploration licence the Minister may, by instrument in writing, direct the holder of the licence to apply, within such period as may be specified in the direction, for an assessment lease or a production lease in respect of so much of that land as is so specified.

(2) If the holder of an exploration licence does not apply for an assessment lease or production lease in accordance with directions given under this section, the Minister may cancel the licence.

Note: Section 22 (4) specifies the time at which cancellation of a petroleum title (which includes an exploration licence) takes effect.